(Alliance News) - Banco BPM Spa and Mediocredito Centrale, as Manager of the SME Guarantee Fund on behalf of the Ministry of Made in Italy, on Wednesday launched two operations with public guarantees on as many loan portfolios. Following the Fund's admission resolutions, Banco BPM began the placement of portfolios of new loans, tranched cover, for a total amount of EUR600 million.

The new portfolios," reads the note released by Banco BPM, "are intended for SMEs and aim to support their investments, liquidity and possible refinancing of medium- and long-term operations with minimum additional finance of 10 percent. The maximum amount of financing is EUR4.5 million for ordinary operations and EUR6 million for investments in research, development and innovation projects."

As Banco BPM specifies in the note, "In keeping with BBPM's and Mediocredito Centrale's commitment to support businesses in the transition to a sustainable economy, operations aimed at supporting investments in Green projects are also eligible for financing."

In 2023, Banco BPM had concluded the placement of another EUR300 million loan portfolio, backed by the same guarantee, fully allocated.

"The collaboration with Mediocredito Centrale in offering financing instruments capable of facilitating the business of companies," commented Domenico De Angelis, co-general manager of Banco BPM, "confirms the Institute's commitment to continue to strengthen its role as a leading bank in offering facilitative measures for the investments of Italian SMEs and Mid Caps, the true backbone of our production system."

"We will continue to be a partner of companies in their development plans and in support of sustainable transition, with a set of solutions that will accompany them in the different stages of their journey," De Angelis added.

Banco BPM on Wednesday trades bullish by 2.4 percent at EUR6.27 per share.

By Maurizio Carta, Alliance News reporter

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